Kylie Jenner set to become youngest self-made billionaire in history

12 July 2018 — 7:30am

Reality TV star Kylie Jenner is on track to become the youngest self-made billionaire in history thanks to the booming cosmetics company she launched two years ago, Forbes magazine reported on Wednesday.

Jenner, 20, half-sister of Kim, Khloe and Kourtney Kardashian, debuted Kylie Cosmetics in 2016 with $29 lip kits containing matching lipstick and lip liner, and has since sold more than $US630 million ($855 million) worth of makeup.

Forbes said it valued her company at nearly $800 million and that Jenner owns 100 per cent of it.

Adding millions from TV programs, endorsements and after-tax dividends from her company, Forbes said Jenner was "conservatively" worth $900 million.

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Another year of growth would make her the youngest-self made billionaire ever, male or female, the magazine said, surpassing Facebook chief Mark Zuckerberg - who became a billionaire at age 23.

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According to Forbes, the company has only five full-time employees, with Jenner’s mother, Kris Jenner, handling finances and public relations in exchange for a 10 per cent management fee.

Kylie Jenner first grabbed the spotlight as part of the "Keeping Up with the Kardashians" reality TV show with her mother and siblings. Forbes estimated that Kim Kardashian, who has her own cosmetics, clothing and mobile games lines, is worth $350 million.

In an interview with Forbes, Jenner credited social media for helping drive her success.

"Social media is an amazing platform," she said. "I have such easy access to my fans and my customers."

Reuters

Kylie Jenner's company is estimated to be worth $US800m and she owns 100 per cent of it. Credit:AP